MIC books strong revenue, subscriber growth

11 Feb 2014

Millicom International Cellular (MIC) has registered a 7.8% year-on-year increase in turnover for Q4 2013 on the back of strong subscriber growth, with the group passing the 50-million customer milestone, as well as steady ARPUs and greater levels of penetration of smartphones and mobile financial services (MFS). MIC booked revenues of USD1.365 billion for the period under review, compared to USD1.266 billion a year earlier although increasing expenses saw EBITDA contract by 11.9% to USD465 million and net profit for the period was USD55 million, down from USD87 million twelve months previously.

MIC claimed 50.614 million mobile users at the end of 2013, including 10.219 million wireless internet customers, compared to 47.229 million and 6.347 at end-2012. In the cable and digital media segment, the group registered 1.22 million revenue generating units (RGUs) across 884,000 customers. Meanwhile, MFS users more than doubled from 303,000 at 31 December 2012 to 892,000 twelve months later. In terms of mobile data penetration, MIC claimed that 20.2% of its users were mobile data subscribers, compared to 13.4% a year earlier, although this came at the cost of a 28% increase in subsidies, which cost the group USD59.5 million in Q4 2013, compared to USD48.2 million in Q4 2012.

Luxembourg, Millicom International Cellular (MIC)